FHA Loan Qualifying.FHA Loans - FHA Triplex (3 Unit) Mortgage Loans

FHA will finance up to 96.5% of the value (or purchase price) of a 3 unit triplex home for either purchase or refinance. Up to 90% (vs. 75% for conventional loans) of the rental income from the two remaining units assists buyers in qualifying of the mortgage. Like all FHA home loans this is for owner occupied homes only meaning you will need to live in the property.

There is no maximum sales price but there is a maximum loan amount for this type of property. The actual maximum loan amount will depend what state and county the property is located.

FHA's nationwide basic mortgage limits ("the floor") for a three-unit:

* $419,425

and FHA maximum loan ceiling in high-cost* area's for three-units is:

* $645,300

FHA will finance a purchase loan and also complete a FHA  refinance mortgage loan for three unit properties.

FHA also allows the use of some specialized down-payment assistance programs for this type of property.

If you are refinancing or looking to purchase a triplex and the FHA loan limit is within the range you require then take a moment to learn about fha home loansFHA Loan Qualifying

* except Alaska, Hawaii, Guam, and the Virgin Islands where the limit is adjusted 150% to $1,415,925

FHA Loans - FHA Triplex (3 Unit) Mortgage Loans

FHA will finance up to 96.5% of the value (or purchase price) of a 3 unit triplex home for either purchase or refinance. Up to 90% (vs. 75% for conventional loans) of the rental income from the two remaining units assists buyers in qualifying of the mortgage. Like all FHA home loans this is for owner occupied homes only meaning you will need to live in the property.

There is no maximum sales price but there is a maximum loan amount for this type of property. The actual maximum loan amount will depend what state and county the property is located.

FHA's nationwide basic mortgage limits ("the floor") for a three-unit:

* $419,425

and FHA maximum loan ceiling in high-cost* area's for three-units is:

* $645,300

FHA will finance a purchase loan and also complete a FHA  refinance mortgage loan for three unit properties.

FHA also allows the use of some specialized down-payment assistance programs for this type of property.

If you are refinancing or looking to purchase a triplex and the FHA loan limit is within the range you require then take a moment to learn about fha home loans FHA Loan Qualifying.

* except Alaska, Hawaii, Guam, and the Virgin Islands where the limit is adjusted 150% to $1,415,925

 

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